With 200 million shares outstanding in the newco, and $9 BB in net NOL value plus any assets re 'discovered'...what do you think the company or companies might be willing to pay in cash for this newco? Might JPM be interested?
Fish, great post! May be on to something here! I remember much talk about the abandonment of stock happening only after planned conformation! Hmmmmm! More than any other time, I hope you're right on this one! ;-)
Don: You may have nailed exactly why the EC settled for what they did:
Oh! the IRS says I can not sell or merge with another company for NOL's to be used by the acquiring company... But guess what? I don't care about the 6B in NOL's anymore, because I just put a 26B Ordinary Loss on the books and sell my Ordinary Loss!!!! I can now merge "with any" company that wants to acquire me for my OL because the law does not single out this type of acquisition. We are not using the NOL's, we are using the loss we took for WMB Bank Stock as an instrument of value.
Oh Boy! We're gonna be rich! I'm diggin' it. Got my cash infusion. now, just have to wait several business days for funds to clear. Looks like timing as it was may have let me find a position to acquire more shares for my $ if these sp's keep drifting lower. GLTA.